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REAL ESTATE

Experts to discuss Saudi steel industry at Riyadh forum
November 15, 2018

JEDDAH: The Saudi International Iron and Steel Conference, organized by the National Committee for Steel Industry, will be held in Riyadh in March 2019 as part of efforts to develop and promote growth in the Saudi steel industry.


The event, the first international steel summit in the Kingdom, will bring together local, regional and global industry leaders to discuss critical issues"...

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Farhad Azizi: New Mortgage Rules Can Be a Game Changer
November 14, 2018

Indeed, the UAE’s banking sector has paved the way to help hundreds of thousands of people accomplish their aspirations of owning a ‘dream home’, which has fostered their sense of belonging to the nation. Across the world, evolved and mature property markets are invariably backed by a strong home finance sector. The UAE has created robust fundamentals for the growth of both sectors through the implementation of judicious policies and laws.

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KAEC awards SR 1.2bn contracts in 2018
November 12, 2018

JEDDAH — King Abdullah Economic City (KAEC) has awarded new contracts worth over SR1.2 billion for the construction and development of several sectors in the city during the year 2018, Saudi Press Agency reported on Sunday.

KAEC acting Chief Executive Officer Ahmed Bin Ibrahim Linjawy said that 20 percent of the value of the contracts was for the development of the industrial valley, residential areas and facilities.

About 80 percent"...

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SACO continues expansion in KSA
November 12, 2018

SACO, the Saudi hardware retail and home improvement giant, opened its 31tst store, expanding its presence across 17 cities in KSA. SACO provides its customers with a wide range of the best products and innovative solutions available, offering more than 45,000 products to meet every customers’ needs and aspirations. The new store occupies a space of 5,200 square meters at Atyaf Center in Riyadh. More than 60 jobs will be created to support the new store....

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Shaker Group reduces Q3 losses
November 12, 2018

SHAKER Group (Al Hassan Ghazi Ibrahim Shaker Co.), Saudi Arabia’s leading importer, manufacturer and distributor of air conditioners and home appliances, has announced its financial results for the third quarter and the nine-month period ended Sept. 30, 2018.

Losses for the third quarter, at both net and operating level, decreased compared to Q3 2017, as a result of improvements to the Group’s gross margin and the delivery of reduced operating"...

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Saudi King launches $4.4bn new development projects
November 10, 2018

Saudi King Salman has embarked on a massive development mission launching projects worth SR16.5 billion ($4.4 billion) mainly focusing on the key sectors of housing, road, tourism, water, electricity and public utilities, reported SPA.

The projects were unveiled yesterday (November 7) at Qassim in the presence of Crown Prince Muhammad bin Salman, deputy premier and minister of defence.

King Salman laid the foundation stone for more than"...

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Saudi Arabia announces 1st house built using 3-D printing tech
November 7, 2018

JEDDAH: The National Housing and Industrial Development and Logistics Program has announced the Kingdom’s first house built using 3-D printing technology.
The program’s aim is to keep abreast of technological progress worldwide in the construction industry, and to promote the adoption of innovative techniques and the Saudization of the industry in the Kingdom.
Located on Housing Ministry land west of King Khalid International Airport in Riyadh,"...

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Kinan wins Dubai Recon Award for Excellence Activation at Dana
November 7, 2018

KINAN International Real Estate Development Company - Dana Mall received the Silver Award at the Recon Awards in Dubai, Middle East and North Africa. Kinan has developed a number of commercial centers widely spread across the Kingdom.

‏Kinan participated in the annual Recon Awards held in Dubai and organized by the Middle East Council of Shopping Centers , which hosts a number of international brands and business owners, major business developers"...

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Malabar Group opens new eco-friendly global headquarters at Montana Estate
November 6, 2018

MALABAR Group, one of the world class brands from India with presence in 10 countries, last Saturday added another laurel to its roaster of glory by formally inaugurating the new Global Headquarters, which is completely nature-friendly but ultra-modern with advanced facilities.

The picturesque headquarters of the diversified Malabar Group, at Kuttikattoor, Kozhikode, India will house all its subsidiaries including the flagship brand, Malabar Gold &"...

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Saudi Arabia’s Dar Al Arkan sees profits drop on sales decline
November 6, 2018

LONDON: u2028Saudi Arabian real estate developer Dar Al Arkan said that a decline in property sales has dragged down its profits for the third quarter this year, according to a filing on the Saudi stock exchange.
Net profit after zakat and tax dropped to SR36.7 million ($9.6 million), a decline of 82 percent compared to profits in the same quarter last year, the company said.
Total sales revenues reached SR987.6 million in the quarter, a 33 percent drop"...

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